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Choose the appropriate letter to match the term with the definition. There are more definitions than terms. 1. Outstanding Check 2. Sales Returns and Allowances
Choose the appropriate letter to match the term with the definition. There are more definitions than terms. 1. Outstanding Check 2. Sales Returns and Allowances 3. Discount Period 4. Net Sales 5. Net Income 6. NSF Check 7. Maximum Credit Period 8. Gross Profit Percentage a. When a company accepts goods back from a customer. b. When companies reduce price for a sale and then raise it back again. c. Net income divided by gross profit. d. Gross profit divided by total assets. e. Sales revenue minus all expenses. f. The longest amount of time a company has to pay a supplier the gross amount owed. g. When a check has been written but has not yet been recorded by the check writer's bank. h. Sales revenue minus all sales discounts, credit card discounts, and sales returns and allowances. i. The length of time a company has to pay a supplier and still receive an early payment discount. j. Gross profit divided by net sales. k. When a check has been written on an account that does not have enough money to cover it
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